Jenna Bush got married over the weekend. But she did not sign a pre-nup.
Apparently, the family doesn't believe in exit strategies.
Wednesday, May 14, 2008
Two Drink Minimum
Wednesday, May 7, 2008
Save Your Nickels
3 Nickels
A father walks into a restaurant with his young son. He gives the young boy 3 nickels to play with to keep him occupied. Suddenly, the boy starts choking, going blue in the face. The father realizes the boy has swallowed the nickels and starts slapping him on the back. The boy coughs up 2 of the nickels, but keeps choking.
Looking at his son, the father is panicking, shouting for help. A well dressed, attractive, and serious looking woman, in a blue business suit is sitting at a coffee bar reading a newspaper and sipping a cup of coffee. At the sound of the commotion, she looks up, puts her coffee cup down, neatly folds the newspaper and places it on the counter, gets up from her seat and makes her way, unhurried, across the restaurant.
Reach ing the boy, the woman carefully drops his pants; takes hold of the boy's testicles and starts to squeeze and twist, gently at first and then ever so firmly. After a few seconds the boy convulses violently and coughs up
the last nickel, which the woman deftly catches in her free hand. Releasing the boy's testicles, the woman hands the nickel to the father and walks back to her seat in the coffee bar without saying a word.
As soon as he is sure that his son has suffered no ill effects, the father rushes over to the woman and starts thanking her saying, 'I've never seen anybody do anything like that before, it was fantastic. Are you a doctor?
'No,' the woman replied. 'Divorce attorney.'
A father walks into a restaurant with his young son. He gives the young boy 3 nickels to play with to keep him occupied. Suddenly, the boy starts choking, going blue in the face. The father realizes the boy has swallowed the nickels and starts slapping him on the back. The boy coughs up 2 of the nickels, but keeps choking.
Looking at his son, the father is panicking, shouting for help. A well dressed, attractive, and serious looking woman, in a blue business suit is sitting at a coffee bar reading a newspaper and sipping a cup of coffee. At the sound of the commotion, she looks up, puts her coffee cup down, neatly folds the newspaper and places it on the counter, gets up from her seat and makes her way, unhurried, across the restaurant.
Reach ing the boy, the woman carefully drops his pants; takes hold of the boy's testicles and starts to squeeze and twist, gently at first and then ever so firmly. After a few seconds the boy convulses violently and coughs up
the last nickel, which the woman deftly catches in her free hand. Releasing the boy's testicles, the woman hands the nickel to the father and walks back to her seat in the coffee bar without saying a word.
As soon as he is sure that his son has suffered no ill effects, the father rushes over to the woman and starts thanking her saying, 'I've never seen anybody do anything like that before, it was fantastic. Are you a doctor?
'No,' the woman replied. 'Divorce attorney.'
Wednesday, March 19, 2008
What Can we Learn from Paul and Heather?
The biggest news in the world of prenups is, once again, the lack thereof. Paul McCartney got it handed to him by a judge last week, ordering him to pay $48.7 million to his ex, Heather Mills, plus $70,000 a year in alimony. This gave Paul what was really a win by only awarding 20% of the $250 million Heather was seeking after their four-year marriage. Despite finding Paul to be "honest" and Heather to be an "inconsistent and inaccurate witness," the judge's decision, unfair as it may seem, is not likely to be appealed.
Unlike in the US, prenups in the UK are only influential, not binding on a court. However, the Brits are following our lead, with more and more judges enforcing pre-marital contracts that are fairly entered into beyond what their laws even require. Nonetheless, it doesn't matter which country you're in - if you DON'T have a prenup, you are submitting to the broad discretion of a judge to determine your financial fate. Optimism aside (Paul is quoted as saying he thought it was for life), it just doesn't make any sense not to have a contingency plan to give you some certainty in case things don't work out.
Unlike in the US, prenups in the UK are only influential, not binding on a court. However, the Brits are following our lead, with more and more judges enforcing pre-marital contracts that are fairly entered into beyond what their laws even require. Nonetheless, it doesn't matter which country you're in - if you DON'T have a prenup, you are submitting to the broad discretion of a judge to determine your financial fate. Optimism aside (Paul is quoted as saying he thought it was for life), it just doesn't make any sense not to have a contingency plan to give you some certainty in case things don't work out.
Friday, March 7, 2008
Free Publicity is Good Publicity
About a month ago, I was contacted by an editor of the Times Publication, a Phoenix community newspaper that publishes about 125,000 issues monthly throughout the Valley. She was researching an article on prenups, and I was excited to be asked to contribute. The article, which you can read on-line here, unfortunately does more to spread the sensational negative side of prenups, than provide the facts I was hoping for. Still, I guess free publicity is good publicity. At least she accurately addressed the growing trend and some positive reasons for having one.
The truth is that the behavioral clauses she talks about, the ones in which unnamed celebrities purportedly require weight limits and sex minimums, with financial repercussions for non-compliance, are not only uncommon, they are usually unenforceable. The thing to understand is that a prenup really is only limited by your imagination. It is yours to create, otherwise you acquiesce in some stranger deciding the terms of your marriage for you. However, your focus should be on your finances, leaving the "lifestyle" agreements to a private letter between you and your partner.
The truth is that the behavioral clauses she talks about, the ones in which unnamed celebrities purportedly require weight limits and sex minimums, with financial repercussions for non-compliance, are not only uncommon, they are usually unenforceable. The thing to understand is that a prenup really is only limited by your imagination. It is yours to create, otherwise you acquiesce in some stranger deciding the terms of your marriage for you. However, your focus should be on your finances, leaving the "lifestyle" agreements to a private letter between you and your partner.
Sunday, March 2, 2008
Bridal Show Blowout
A week ago, we had the immense pleasure of hosting a booth at the Tucson Bridal Show at the beautiful Hotel El Conquistador in Tucson's northwest foothills. We had an incredible turnout, with hundreds of brides signing up to win our drawing for a free stay at Bahia Brisas, a privately owned luxury penthouse in Historic Mazatlan. (Check out this incredible place for your next getaway). I was not so sure brides would be receptive to hearing about prenups, when they were clearly there to plan their fantasy wedding day. But I took the challenge head-on with my sign which read: Don't just plan a wedding. Prepare for Partnership. I thought it was brilliant.
And to my delight, over half of those we spoke to were open to learning about prenuptial agreements, and many signed up for a free consultation with the firm. Other reactions were interesting, with some couples averting their eyes from me, and each other, or giggling nervously at the mention of the "P" word. It was surprising how many were already subconsciously sticking their heads in the sandy beaches of denial.
Like most people, they had no idea what the laws were that would determine their financial fate once they were married, let alone did they realize they had the option to opt out of those laws by creating their own in a prenuptial agreement. At the very least, I think we opened a few minds and got them thinking practically about the financial partnership they were contracting into by getting married. The best part I think was the parents. One dad came right up and said, of all the money I'm going to shell out today, the money I spend with you will likely make the most difference. Here's to Happily Ever After!
And to my delight, over half of those we spoke to were open to learning about prenuptial agreements, and many signed up for a free consultation with the firm. Other reactions were interesting, with some couples averting their eyes from me, and each other, or giggling nervously at the mention of the "P" word. It was surprising how many were already subconsciously sticking their heads in the sandy beaches of denial.
Like most people, they had no idea what the laws were that would determine their financial fate once they were married, let alone did they realize they had the option to opt out of those laws by creating their own in a prenuptial agreement. At the very least, I think we opened a few minds and got them thinking practically about the financial partnership they were contracting into by getting married. The best part I think was the parents. One dad came right up and said, of all the money I'm going to shell out today, the money I spend with you will likely make the most difference. Here's to Happily Ever After!
Tuesday, February 5, 2008
A Marriage of Passion and Practicality
After seven years practicing law in a traditional law firm and, quite frankly, not enjoying it most of the time, I believe I may have finally found my ideal career. I've discovered a niche that perfectly blends my diverse interests and passions. My background in psychology and personal development marries perfectly with my skills and experience in contract law, mediation, and negotiation in my new law practice, Shulman Legal, PLLC.
The practice is intentionally limited to representing clients in the creation of prenups, post-nups (yep, it's almost never too late) and cohabitation agreements (except in GA, where it's still considered living in sin). What that means is I don't spend any time litigating hostile divorces. Rather, I get to focus my energy on the beginning of relationships, while there is still a chance to create strength in the partnership, and make sound financial choices based on love and respect for each other. Most of my time, in fact, is spent educating people about the value of a prenup as practical and sound planning, and the wisdom of having a contingency plan in case things don't end in happily ever after.
While there are certainly some sensitive negotiations that go on with couples when trying to balance their commitment to their partner, with their practical needs for self protection, it is infinitely less costly emotionally and financially in the long run to do it in advance. I consider it practice for couples to learn how to communicate and resolve money issues as a team. And for me, that's a practice worth fighting for.
The practice is intentionally limited to representing clients in the creation of prenups, post-nups (yep, it's almost never too late) and cohabitation agreements (except in GA, where it's still considered living in sin). What that means is I don't spend any time litigating hostile divorces. Rather, I get to focus my energy on the beginning of relationships, while there is still a chance to create strength in the partnership, and make sound financial choices based on love and respect for each other. Most of my time, in fact, is spent educating people about the value of a prenup as practical and sound planning, and the wisdom of having a contingency plan in case things don't end in happily ever after.
While there are certainly some sensitive negotiations that go on with couples when trying to balance their commitment to their partner, with their practical needs for self protection, it is infinitely less costly emotionally and financially in the long run to do it in advance. I consider it practice for couples to learn how to communicate and resolve money issues as a team. And for me, that's a practice worth fighting for.
Subscribe to:
Posts (Atom)